All this is great and all, but as I've said the bank has completely cleared the money of any fraud or theft concerns. It was deposited as a check to my friend's name, to their bank account number. There has been no mistake. So, can we move on to people not being worrywarts?

How long ago did your friend report it to the bank? Who are you talking to, the minimum wage teller? These things take months to clear up, not just a few days.

Spending money that is not rightfully yours is stealing. Im sorry, but the big boy world isnt actually run by finders keepers losers weepers.

Especially if you acknowledge that the money is not yours and you were not expecting it.

Not a questions of finders keepers. It's the responsibility of the person making the deposit to make sure they don't deposit it in the wrong account and the responsibility of the bank to make sure it gets there.

All this is great and all, but as I've said the bank has completely cleared the money of any fraud or theft concerns. It was deposited as a check to my friend's name, to their bank account number. There has been no mistake. So, can we move on to people not being worrywarts?

Are you saying that the deposit was a check made payable to your friend and deposited to their bank account? Well that's a different story. Yea, spend it.

I'm sorry people, I don't know any more information than I can give you. I'm not asking for advice for my friend, I'm just sharing a crazy thing and asking what people would do with the money. I'm not seeking any advice or anything.

I had something like that once, it was for about $5,000, maybe 3, not sure.
Anyway, it looked like it came from some bank, and i didn't touch it for few months, than the money was transferred out...
Someone in this thread posted that such a mistake could only be undone within 90 days, I thought it was more than that, but maybe not.

I would suggest not using the money for a long time, like an extremely long amount of time - I was going to wait at least a year (I remember thinking it to myself). You don't want to spend someone else's money, and than have legal problems when they try to take the money back.

Plus if it's drug-dealer's money, you don't want government busting down your door.

Frankly I'd be scared to use it, and wouldn't use it unless there was some serious financial hardship - which would be so serious that getting sued for this money wouldn't make it worse.

Not a questions of finders keepers. It's the responsibility of the person making the deposit to make sure they don't deposit it in the wrong account and the responsibility of the bank to make sure it gets there.

I like how you quickly edited you response. You clearly are not a lawyer.

Not a questions of finders keepers. It's the responsibility of the person making the deposit to make sure they don't deposit it in the wrong account and the responsibility of the bank to make sure it gets there. Of course there would be some legal trouble if you spent it all but as long as you can pull it off as if you actually did think it was intended for you then you can turn it into a legal quagmire. Course if you're a poor piece of shit and can't afford a layer, I'd get also call and have it removed from my account.

In the eyes of the law it is the responsibility of the person receiving the money to put their hands up and say 'this is not mine!' regardless of how it was stupid of either the bank or the individual to deposit the money into the wrong account. We are human afterall and mistakes happen.

I mean, if you are going to notice 10,000 going into your bank account you are not the type of person that should, randomly have that kind of large sum of money be deposited into your account and this is how a court would see it.

I like how you quickly edited you response. You clearly are not a lawyer.

No I'm not and I don't put too much thought into posts on a game forum but I'm sure it would be possible to turn a situation like this into a legal quagmire if you do things right. Either way, I don't care.

Originally Posted by I Knew It

In the eyes of the law it is the responsibility of the person receiving the money to put their hands up and say 'this is not mine!' regardless of how it was stupid of either the bank or the individual to deposit the money into the wrong account. We are human afterall and mistakes happen.

I mean, if you are going to notice 10,000 going into your bank account you are not the type of person that should, randomly have that kind of large sum of money be deposited into your account and this is how a court would see it.

Its a crime of opportunity

Of course there are conditions to pulling this off but yes, in most circumstances you would have to give it back.

Hmm, when I was a kid about $3,000 was accidentally deposited into my account,
about two weeks later is was reversed out,
I'm pretty sure that when the guy finds out he's deposited it into the wrong account he'll be able to contact the bank and have it reversed,
my advice would be to not spend it in case this happens,
If after about a year there's be no reversal, then you're probably in the clear to do whatever with it.

Can someone please explain to me how a person can get in trouble for spending money that was put in their bank account, after the bank cleared it and gave the go-ahead?

How can you get in trouble for spending money that was GIVEN to you?

How is that ever illegal? If you find money on the ground and spend it, is that illegal? Doesn't even make sense.

So, if I don't like someone, I can put money into their bank account, then after they spend it, contest it, and get them in trouble? That's got to be the stupidest thing I've ever heard.

Not certain about laws in other countries, banks have a responsibility but special protections in which they are not liable if they can track whom withdrew the money (through ACH agreements and what not). And remember, it is not the bank's money, they are just a middleman. They have no ownership on that money at all.

Not certain about laws in other countries, banks have a responsibility but special protections in which they are not liable if they can track whom withdrew the money (through ACH agreements and what not). And remember, it is not the bank's money, they are just a middleman. They have no ownership on that money at all.

I know it's not the banks money. Money in MY account is MY money. How can I be charged for using money in MY account, money that is MINE?

I can understand taking away the money if they found it to be in error, but not charging me fees or throwing me in prison or some crap.

Just because the kid next door throws his frisbee over the fence into your yard does not make it yours. Same deal when a package is delivered to the wrong address. You have to establish you have ownership. Possession being 9/10th of the law is a great saying in divorces, but not in banking.

Working for a bank, I'd probably be reluctant to spend it... Knowing my luck, someone would come along right after I spent it and say that they had deposited $10,000 but it never showed up in their account... Even if the bank gave them the go ahead, they're still responsible for that money if someone shows up and can prove that it is theirs.

But, if it 100% was mine to spend, I'd be boring and pay off student loans.